Biz Buzz: State grant helps East Village revival

Retail space, apartments to be built, thanks to $3M in disaster funding

12:56 AM,
Jul. 2, 2013

Tim Rypma, shown with wife Lindsey Frank, has teamed up with Jim Cownie for a project in Des Moines' East Village. The $7.9 million building will include 6,100 square feet of retail space and 20 apartments at 350 E. Locust St.

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Two generations of downtown movers and shakers - Jim Cownie and Tim Rypma - are teaming up to build the next big project in the East Village.

The two are the main players in East Village Growth Partners, which was awarded a $3 million grant from the state to develop vacant city land at 350 E. Locust St. They plan to build a $7.9 million, five-story building that will include 6,100 square feet of retail space and 20 apartments.

The building's penthouse will become Cownie's new offices. The diehard Republican said the fifth floor will be a separate project and not funded by taxpayer money. He plans to ...